NVO Stock Summary and Trading Ideas (Novo Nordisk A/S | NYSE:NVO)

With roughly one third of the global branded diabetes treatment market, Novo Nordisk is the leading provider of diabetes-care products in the world. Based in Denmark, the company manufactures and markets a variety of human and modern insulins, injectable diabetes treatments such as GLP-1 therapy, oral antidiabetic agents, and obesity treatments. Novo also has a biopharmaceutical segment (constituting roughly 10% of revenue) that specializes in protein therapies for hemophilia and other disorders.

Novo Nordisk A/S trades on the NYSE stock market under the symbol NVO.

As of December 13, 2024, NVO stock price declined to $106.95 with 5,417,593 million shares trading.

NVO has a beta of 0.72, meaning it tends to be less sensitive to market movements. NVO has a correlation of 0.12 to the broad based SPY ETF.

NVO has a market cap of $475.20 billion. This is considered a Mega Cap stock.

Last quarter Novo Nordisk A/S reported $11 billion in Revenue and $.90 earnings per share. This beat revenue expectation by $14 million and exceeded earnings estimates by $.02.

In the last 3 years, NVO traded as high as $148.15 and as low as $45.76.

The top ETF exchange traded funds that NVO belongs to (by Net Assets): AVDE, PPH, NUGO, DFIC, FBCG.

NVO has underperformed the market in the last year with a price return of +12.7% while the SPY ETF gained +31.7%. NVO has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -21.7% and +0.8%, respectively, while the SPY returned +8.4% and +0.9%, respectively.

NVO support price is $106.65 and resistance is $110.57 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NVO shares will trade within this expected range on the day.